Meaning & Definition of word "Nonprofit"

Nonprofit

/nɒnˈprɒfɪt/

noun:

  • 1. A nonprofit organization is one that is not intended to make a profit and uses its surplus revenues to further achieve its purpose or mission.
    • Example: The local animal shelter is a nonprofit dedicated to rescuing and caring for abandoned pets.
  • 2. A type of organization where profits are not distributed to owners or shareholders but are used to support the organization's objectives.
    • Example: She works for a nonprofit that focuses on providing educational resources to underprivileged communities.
  • 3. An organization that operates for a purpose other than making a profit, typically in the fields of charity, education, or social services.
    • Example: The nonprofit received a grant to fund their community health programs.

adjective:

  • 1. Relating to an organization that does not operate for the purpose of profit.
    • Example: She volunteers at a nonprofit organization that provides legal aid to those in need.
  • 2. Describing activities or initiatives that aim to benefit the public or a specific community without generating profit.
    • Example: They hosted a nonprofit event to raise funds for disaster relief efforts.
  • 3. Pertaining to entities whose goals are not financial gain but rather social, educational, or charitable outcomes.
    • Example: The nonprofit sector plays a crucial role in addressing issues such as poverty and health care.

Etymology

The term 'nonprofit' combines 'non-' meaning 'not' and 'profit', relating to the financial gain.

Common Phrases and Expressions

nonprofit sector:

The part of the economy concerned with organizations that are not driven by profit.

nonprofit organization:

An organization that operates for a purpose other than making a profit.

nonprofit status:

A designation given to organizations that meet specific criteria set by governing authorities.

Related Words

charity:

An organization set up to provide help and raise money for those in need.

foundation:

An institution set up to provide financial support for charitable purposes.

volunteer:

A person who freely offers to take part in an activity, particularly in a nonprofit context.

Slang Meanings of nonprofit

Meaning: Nonprofit rockstars

Example Sentence: People who work tirelessly to support a cause are often referred to as nonprofit rockstars.

Meaning: Doing good

Example Sentence: Many young professionals seek jobs in nonprofit sectors because they want to be doing good.